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Ill give Upvote The accounting information collected from the MCM company is detailed in the attached tables. Using Tables and showing formulas Prepare the following:
Ill give Upvote The accounting information collected from the MCM company is detailed in the attached tables. Using Tables and showing formulas Prepare the following: a-Balance Sheet at the end of September 30, 2010 b-Status of the cost of the merchandise sold for the month of September 2010 c-Income statement for the month of September 2010 d-Calculate the following financial ratios: current ratio, acid test ratio, participation ratio, profit margin.
Current Situation September 30 2010 | |
Account | Balance |
Debts to pay | $35 000 |
Accounts receivable | $29 000 |
Bonuses Payable | $110 000 |
Buildings (net value) | $605 000 |
Money on Box | $17 000 |
Dividends payable | $8 000 |
Inventory (all) | $31 000 |
Land (terrain) | $450 000 |
Long-term mortgage payable | $450 000 |
Retained Utility | $154 000 |
Stock Value | $375 000 |
Transactions for September 2010 | ||
Category | Amount | |
Direct Labor Force | $50 000 | |
Expenses | ||
Insurance | $20 000 | |
Sales | $62 000 | |
Rental and maintenance | $40 000 | |
Wages | $110 000 | |
Other | $62 000 | |
Total | $294 000 | |
Income Tax | $20 000 | |
Inventory of finished product as of September 1,2010 | $25 000 | |
Inventory of finished product September 30, 2010 | $ 50 000 | |
Inventory of materials as of September 1, 2010 | $46 000 | |
Inventory of materials as of September 30, 2010 | $25 000 | |
Purchasing of Materials | $20 000 | |
indirect manufacturing costs | $75 000 | |
Sales Income | $500 000 | |
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